SBI Gold Fund Direct Growth NAV Falls to ₹46.14 on 22 September

Key Takeaways

• SBI Gold Fund Direct Growth NAV declined 0.48% to ₹46.14 on 22 September 2026, reflecting a moderate day-to-day change in the scheme's gold-linked valuation. 
• The scheme managed approximately ₹17,647 crore in the latest supporting fund-size snapshot, with the Direct Plan expense ratio around 0.20%. 
• SBI Gold Fund obtains its exposure predominantly through the underlying SBI Gold ETF rather than through a conventional portfolio of listed equities. 
• Cash, TREPS and current-asset or liability adjustments can cause the underlying ETF weight to appear slightly above or below 100% in portfolio disclosures, so such figures need to be read in accounting context. 

SBI Gold Fund Direct Growth NAV declined 0.48% to ₹46.14 on 22 September 2026. The fund's structure differs materially from the equity-oriented schemes in this batch because its portfolio is designed primarily to obtain gold-linked exposure rather than invest across listed companies. 

The latest supporting data placed assets under management at approximately ₹17,647 crore. The Direct Plan expense ratio stood at around 0.20%, and the minimum SIP was ₹500. These figures relate to the fund-of-fund structure and sit alongside the costs associated with the underlying investment vehicle. 

SBI Gold Fund derives its exposure predominantly through the underlying SBI Gold Exchange Traded Scheme. Conventional stock-level analysis, such as comparing banking, technology or industrial holdings, would therefore be inappropriate for this portfolio. 

Cash-management instruments and current assets or liabilities can create small differences between the fund's underlying ETF weight and 100% of net assets. In some portfolio disclosures, an underlying ETF exposure can consequently appear marginally above 100% when combined with negative net current assets. Such a reading does not mean the scheme literally owns more than 100% of its assets in gold. 

The 0.48% decline on 22 September represents the change in the scheme's NAV between consecutive valuation periods. Longer-period historical returns capture changes across considerably broader gold-price and currency environments and should be read separately from this daily movement. 

For the same reason, equity-style beta or stock-concentration commentary is less useful here than the underlying ETF exposure, expense structure, fund size and gold-linked nature of the portfolio. 

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.